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US new home sales recover in Jan

by ChemOrbis Editorial Team -
  • 27/02/2017 (17:05)
According to data released by the US Commerce Department, new U.S. single-family home sales rebound in January after hitting the lowest of 10-months in December.

New home sales climbed by 3.7% on a yearly basis to 555,000 units in January after a drop of 7% in December. However, they still stood below the economists’ estimates of an increase of 7.5%.

Analysts remarked that the rebound in home sales at the start of the year stemmed from the sharp rise in home sales in Northeast and Midwest, where sales posted respective increases of 15.8% and 14.8%.
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